Pace E-Commerce Ventures was incorporated on August 5, 2015. The company started as the business of international football clubs' merchandise and international sports brands' apparel and sports goods. It started with imports and distribution of branded international sports apparel and extended to various branded merchandise and accessories. Thereafter it acquired manufacturing and distribution licenses of some of the popular and biggest brands in the kid's entertainment industry.
| Bidding Dates |
|---|
| 29 Sep 2022 - 13 Oct 2022 |
| Subscription |
|---|
| 1.14x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,23,600 | 1 | 1 | 1200 | 6.5 M | ₹103 | 71.33 % | ₹665.3 M | RHP DOC |
Pace E-Commerce IPO SUBSCRIPTION STATUS
13 Oct '22Pace E-Commerce IPO overall subscription rate was 1.14 times the total available shares
Pace E-Commerce IPO retail subscription rate was 0.55 times in the retail segment
Pace E-Commerce IPO non-institutional investor subscription rate was 1.72 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
13 Oct 2022 (Day 10) | 0.55x | 1.72x | - |
12 Oct 2022 (Day 9) | 0.47x | 0.99x | - |
11 Oct 2022 (Day 8) | 0.46x | 0.99x | - |
10 Oct 2022 (Day 7) | 0.45x | 0.99x | - |
07 Oct 2022 (Day 6) | 0.37x | 0.92x | - |
06 Oct 2022 (Day 5) | 0.33x | 0.92x | - |
04 Oct 2022 (Day 4) | 0.3x | 0.91x | - |
03 Oct 2022 (Day 3) | 0.1x | 0.51x | - |
30 Sep 2022 (Day 2) | 0.02x | 0.02x | - |
29 Sep 2022 (Day 1) | 0.01x | 0x | - |
Pace E-Commerce FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY22 | 5.4 | 105.0 | -24.5 | -24.7 |
| FY21 | 0.7 | 17.0 | -28.2 | -253.4 |
| FY20 | 0.0 | 14.9 | 0.0 | 0.3 |
Pace E-Commerce IPO SUBSCRIPTION STATUS DETAILS
Pace E-Commerce had 6.5 M shares on offer
Pace E-Commerce IPO offer price was ₹103
Pace E-Commerce IPO minimum Investment was ₹123600
Pace E-Commerce IPO issue size was ₹ 665.3 M
Pace E-Commerce had a minimum lot size of 1200 Shares per application
Pace E-Commerce NUMBER OF SHARES ON OFFER
Pace E-Commerce IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2022 |
| Issue close Date | 13 Oct 2022 |
| Allotment Date | 18 Oct 2022 |
| Refund Date | 19 Oct 2022 |
| Demat Account Credit Date | 20 Oct 2022 |
| Listing Date | 20 Oct 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Pace E-Commerce Allotment Status | Exchange |
Pace E-Commerce IPO subscription opened on 29 Sep 2022, and closed on 13 Oct 2022
IPO allotment for Pace E-Commerce was finalized on Tuesday, 18 Oct 2022
IPO listing for Pace E-Commerce was on NSE and BSE on Thursday, 20 Oct 2022
Pace E-Commerce IPO LISTING GAINS
| Issue Price (adjusted) | 103.0 |
| Listing Open Price | 104.5 |
| Listing Close Price | 109.7 |
| Listing Gain% | 1.5% |
| Current Gain% | -85.8% |
Pace E-Commerce Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pace E-Commerce Ventures Ltd. | 14.6 | 32.9 | 8.7 | 0.6 | 0.3 | 4.7 | 3.7 | 102.2 | 37.8 | 3.8 | 14 | 1.7 | 14 |
| Lenskart Solutions Ltd. | 569.7 | 99054.9 | 200.7 | 11.2 | 5.6 | 3.4 | 8988.3 | 28.2 | 493.6 | 67 | 2.8 | ||
| Page Industries Ltd. | 39900 | 44504.1 | 58.3 | 12.2 | 8.5 | 50.8 | 26.7 | 5310.7 | 6.3 | 763.8 | 4.8 | 684.8 | 4.8 |
| Pearl Global Industries Ltd. | 2464.1 | 11381.8 | 36.7 | 1.5 | 2.1 | 19 | 8.6 | 5061.7 | 11.5 | 277.7 | 11.8 | 67.2 | 23.7 |
| Safari Industries (India) Ltd. | 1486.6 | 7267.4 | 44 | 4.1 | 3.4 | 15 | 11.6 | 2071.8 | 15.1 | 167.8 | 17.5 | 33.8 | 10.9 |
| Arvind Fashions Ltd. | 458.8 | 6132.7 | 51.3 | 0.1 | 1.1 | 13 | 2.9 | 5307 | 14 | 122.6 | 444.6 | 8.9 | 591.7 |
Pace E-Commerce INFORMATION ON IPO ISSUE
About Pace E-Commerce
Pace E-Commerce Ventures was incorporated on August 5, 2015. The company started as the business of international football clubs' merchandise and international sports brands' apparel and sports goods. It started with imports and distribution of branded international sports apparel and extended to various branded merchandise and accessories. Thereafter it acquired manufacturing and distribution licenses of some of the popular and biggest brands in the kid's entertainment industry.
Object of the Issue
- Acquisition of plant and machinery
- Working capital requirement
- General corporate purpose
Pace E-Commerce - PROMOTERS
| Name |
|---|
| Shaival Dharmendra Gandhi |
Pace E-Commerce Lead Manager of the Issue
Interactive Financial Services
mbd@ifinservices.in
Pace E-Commerce Registrar to the Issue
Bigshare Services Private Limited
ipo@bigshareonline.comWebsite
Pace E-Commerce Strengths
Agreements with widely known companies
The company has tied up with various internationally renowned companies working for kids for various products like furniture, toys, garments, etc.
Founder led management team
The company's management team has been with the founder since its corporation and it has helped to add a significant number of segments and products to the portal. The integrated structure also allows the company to control the budget and maximize returns from the portal, including designers' returns, operations and maintenance margins.
Understands consumer behavior
The company has developed insights into the way Indian customers spend. It is also well-versed with the way merchant operates the business.
Pace E-Commerce Risks
Legal proceedings
There are certain outstanding legal proceedings involving the company, promoter and director. Failure to defend these proceedings successfully may have an adverse effect on the business prospects, financial condition, result of ongoing operations and reputation.
Subject to risks related to online payment
The company accepts payments through various methods, including credit cards and debit cards through a third-party processor /payment gateway and e-wallets. Hence, it is subjected to risks related to online payment methods.
High working capital requirment
The company requires high working capital in the FY23 and onwards and its inability to fund these requirements in a timely manner may adversely impact financial performance.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 25.3 crore, of 2,459,600 shares. It also consists of a fresh issue of Rs 41.2 crore.
The promoter of the company is Shaival Dharmendra Gandhi.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 103.0 - 103.0.
The IPO application opens on Sep 29, 2022 and closes on Oct 13, 2022.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 123,600.0, the maximum value for this IPO is Rs 123,600.0.
This IPO will be allotted on Oct 18, 2022.
The refund will be credited to your account on Oct 19, 2022.
The allotted shares will be credited to your demat on Oct 20, 2022.
Pace E-Commerce Ventures Ltd.’s shares listed on the stock exchanges on Oct 20, 2022.